"$1.5 million to improve the parking garages and roads surrounding the Greektown Casino development in Detroit."
Detroit's Greektown Casino filed for Chapter 11 bankruptcy protection back in May. Greektown Casino, one of three commercially operated casinos in Detroit, is owned primarily by the Sault Ste. Marie Tribe of Chippewa Indians.
Tom Celani, a former founding partner in Detroit's MotorCity Casino along with Marian Ilitch and Michael J. Malik, Sr., tried to buy controlling interest in Greektown Casino back in January, according to a story published in the Detroit News, but that transaction was never consumated.
Tom Celani, a former founding partner in Detroit's MotorCity Casino along with Marian Ilitch and Michael J. Malik, Sr., tried to buy controlling interest in Greektown Casino back in January, according to a story published in the Detroit News, but that transaction was never consumated.
But now, according to BackRoomNews.com:
"Tom Celani, a Bloomfield Hills businessman and investor, is trying to buy Greektown Casino in downtown Detroit.
Celani, who was an initial investor in Motor City Casino, has partnered with a Connecticut-based hedge fund called Plainfield to bid for Greektown, which is being marketed to buyers through bankruptcy proceedings.
Celani says he expects he is among up to four bidders interested in the casino, which generates $300 million a year in annual revenue. Celani would not disclose the amount of his bid.
'I understand the property very well … I’ve been in the casino business for 20 years. Gaming is what we enjoy,' Celani said. 'I’d love to do it in my hometown.' "
